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What Next | Trump’s Animal-Spirit Economy

Slate News

Slate Podcasts

News, News Commentary, Politics

4.66K Ratings

🗓️ 20 March 2025

⏱️ 30 minutes

🧾️ Download transcript

Summary

The economy that Donald Trump inherited from Joe Biden had low unemployment, slowing inflation, and a growing GDP. So what is he trying to achieve by imposing heavy tariffs on our allies and trading partners?  Guest: Stephanie Ruhle, NBC business analyst and the host of The 11th Hour with Stephanie Ruhle. Want more What Next? Join Slate Plus to unlock full, ad-free access to What Next and all your  other favorite Slate podcasts. You can subscribe directly from the What Next show page on Apple Podcasts and Spotify. Or, visit slate.com/whatnextplus to get access wherever you listen. Podcast production by Elena Schwartz, Paige Osburn, Anna Phillips, Madeline Ducharme, Ethan Oberman, and Rob Gunther. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:36.7

So Stephanie, we're a couple of months into Trump 2.0.

0:40.2

And I'm wondering if you had to sum up Trump's economy in like a word or a phrase, what would it be?

0:48.6

So awesome.

0:52.0

I called up Stephanie Rule over at MSNBC because I needed a friend to tell me exactly what Trump is doing with the economy.

1:02.2

Also because I needed a laugh first thing in the morning.

1:06.1

I sense some sarcasm there.

1:09.6

Oh, my goodness. Sorry, sorry, sorry.

1:13.3

Self-inflicted chaos.

1:16.1

Trump's approach has been described as economic shock therapy.

1:20.8

New York Magazine said the president is trying to design his own recession.

1:26.1

These are not turns of phrase most presidents want associated with

1:30.1

them.

1:31.1

But we're dealing with Donald Trump here.

1:35.0

Before working as a journalist, Stephanie spent years working in finance.

1:40.4

She says one of the stranger things about this moment is calling up her sources in the business

1:45.3

community and realizing how surprised they are. Because back in November, many of them saw Trump

1:51.6

2.0 as an opportunity. When President Trump won, they embraced it. And they thought, all right,

...

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